Generally, there are 3 kinds of people out there:
I’m pretty sure you have Jack Sparrow on your mind and you’re wondering what do pirates and eCommerce have in common. AARRR metrics may sound like a pirate talking (hence the name, Pirate Metrics), but is actually a powerful way to track your eCommerce business’ performance.
AARRR metrics is a “collection” of techniques that drive true growth with the power of data analysis. It was defined by entrepreneurship guru Dave McClure (a founding partner of 500 Startups, a Silicon Valley VC fund) a few years ago and it’s the “system” of KPI metrics most modern online entrepreneurs use to make their businesses go up and to the right.
Having an amazing customer retention is something we all dream about. Especially in the eCommerce world where customer acquisition costs are raising every single day. Wouldn’t it be perfect if most of our customers were repeat customers? Off course! But how do we do that?
Let’s step away from the complicated Big Data analysis for a second. Don’t get me wrong – analytics are awesome! They help us increase conversion rates and optimize acquisitions channels. They help us learn interesting facts about our customers. But repeat purchases are a completely different story. And customer retention depends on something truly simple. Unless you’re going for the “we are the cheapest option out there” customer strategy, there’s one thing you need to focus on. And that thing is a simple human emotion.